ISLAMABAD - Federal Minister for Finance and Revenue Shaukat Tarin on Tuesday once again warned the non-tax filers that the government and Federal Board of Revenue (FBR) are reaching out to them.
He said that the people of this country do not pay taxes. However, he added that the government and the FBR are reaching out to all non-filers. Addressing a launching ceremony of ‘Automated Currency Declaration System’, the minister stressed the need for using technology in matters related to taxation and foreign exchange. He said that all economic matters should be free from obstacles. He highlighted that the incumbent government is taking possible measures in this regard, adding that all the government agencies are working responsibly and reforms are underway. “Taxation and foreign exchange reserves are two very important components of Pakistan’s economy and are very important for the government,” Tarin reiterated and added that economic headwinds can be “fixed through automation.”
The finance minister highlighted that in some cases, the authorities face difficulties because some traders import goods from China while invoicing comes from Dubai. “People have opened companies in Dubai, underwriting is taking place from there,” Tarin said, adding that everyone, irrespective of their intellectual abilities, can understand that there is “something fishy about it.”
Speaking to the august gathering comprising all FBR Members, dignitaries, senior officers and media representatives, the finance minister congratulated Chairman FBR and his team for making this long-awaited initiative possible in a short period of time. He stated that the government was focusing on the documentation of economy to broaden the tax base. “This aim can only be achieved through the use of technology and automation with review of existing procedures and processes,” he remarked.
Presently, Currency Declarations (CDs) are obtained randomly from the passengers coming to or going out of the country through Airports. Currency Declarations are manually secured in shape of hard copies and are then entered into the System manually in batches. For millions of passengers coming in and going out from the country, it is an uphill task, especially, with very little resources in comparison with the challenges faced by Pakistan Customs and other Law Enforcement Agencies (LEAs). Since the current Currency Declaration System (CDS) was not working to achieve the goal of complete documentation of foreign currency movement, a new system was envisaged by FBR. This digital system was developed with the assistance of NADRA and FIA and will now be deployed at all international airports, starting from Islamabad International Airport. “This new system will be a hassle-free and time saving, one stop solution for all incoming and outgoing passengers,” Finance Minister remarked.
